“I’m excited to stay involved in some of our core technologies,” he added, just “not in an executive-type role.” Straubel had overseen technical and engineering projects for Tesla as CTO since 2005, and played a key role in developing Tesla’s battery technology.

This isn’t the first time Tesla has dropped news of a C-suite shake-up in an earnings call with investors.

In January, Musk announced at the end of a conference call discussing fourth-quarter results that Deepak Ahuja was retiring as chief financial officer of the company. Ahuja has since been replaced with Zachary Kirckhorn, previously vice president of finance for the company.